More than half of the Chinese companies surveyed by a leading US business lobby in Shanghai believe the country’s economic management is deteriorating.
The American Chamber of Commerce in Shanghai called for a relaxation of China’s strict zero-Covid policy as it found that around a fifth of the 307 companies it surveyed were pulling back on investment, mostly as a result of coronavirus measures.
Although 55 per cent of the businesses remained optimistic over a longer-term horizon of a three-to-five-year period, this was the lowest level since the survey began in 1999.
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